XML 66 R39.htm IDEA: XBRL DOCUMENT v3.24.2.u1
Material accounting policies - historical financial information has been translated to United States dollars (Details)
 12 Months Ended
Mar. 31, 2024
USD ($)
Mar. 31, 2023
USD ($)
Mar. 31, 2023
CAD ($)
Mar. 31, 2023
CAD ($)
Mar. 31, 2022
USD ($)
Mar. 31, 2022
CAD ($)
Current assets            
Cash and cash equivalents $ 733,188 $ 1,334,280   $ 1,334,280 $ 1,753,437  
Restricted cash 29,611 29,556   29,556 32,010  
Other receivables 41,747 149,369   149,369 39,510  
Prepaids 322,126 77,050   77,050 5,385  
Total current assets 1,126,672 1,590,255   1,590,255 1,830,342  
TOTAL ASSETS 1,132,159 1,590,255   1,590,255 1,830,342  
Current liabilities            
Accounts payable and accrued liabilities 755,202 1,790,700   1,790,700 131,642  
TOTAL LIABILITIES 12,104,699 1,790,700   1,790,700 131,642  
EQUITY            
Net equity       (200,445) 1,698,700  
NET DEFICIT (10,972,540) (200,445)   (200,445) 1,698,700  
TOTAL LIABILITIES AND NET DEFICIT 1,132,159 1,590,255   1,590,255 $ 1,830,342  
Expenses            
Sales and marketing 80,603 7,029        
Research and development 954,593 1,608,895        
General and administrative 557,904 366,435        
Professional and consulting fees 1,158,484 1,252,510        
Loss before other items (2,751,584) (3,234,869)        
Other items            
Interest income 2,134 1,554        
Foreign exchange gain (2,695) 26,912        
NET LOSS (51,159,048) (3,206,403)        
Non-cash adjustment:            
Share based compensation 317,882 221,287        
Foreign exchange 3,658 (84,499)        
Changes in working capital:            
Other receivables 107,622 (109,858)        
Prepaids (245,075) (71,665)        
Accounts payable and accrued liabilities (1,035,498) 1,659,058        
Cash used in operating activities (2,945,367) (1,592,080)        
Proceeds received from Psyence Group Inc   1,172,923        
Cash provided from financing activities 2,350,000 1,172,923        
Change in cash and cash equivalents (601,092) (419,157)        
Cash and cash equivalents, beginning of year 1,334,280 1,753,437        
Cash and cash equivalents, end of year $ 733,188 $ 1,334,280 $ 1,334,280      
Reported            
Current assets            
Cash and cash equivalents       1,805,765   $ 2,191,095
Restricted cash       40,000   40,000
Other receivables       202,150   49,372
Prepaids       104,276   6,729
Total current assets       2,152,192   2,287,196
TOTAL ASSETS       2,152,192   2,287,196
Current liabilities            
Accounts payable and accrued liabilities       2,423,467   164,500
TOTAL LIABILITIES       2,423,467   164,500
EQUITY            
Net equity       (271,275)   2,122,696
NET DEFICIT       (271,275)   2,122,696
TOTAL LIABILITIES AND NET DEFICIT       2,152,192   2,287,196
Expenses            
Sales and marketing     9,292      
Research and development     2,126,762      
General and administrative     484,382      
Professional and consulting fees     1,655,663      
Loss before other items     (4,276,099)      
Other items            
Interest income     2,054      
Foreign exchange gain     35,574      
NET LOSS     (4,238,471)      
Non-cash adjustment:            
Share based compensation     292,756      
Changes in working capital:            
Other receivables     (152,778)      
Prepaids     (97,547)      
Accounts payable and accrued liabilities     2,258,967      
Cash used in operating activities     (1,937,073)      
Proceeds received from Psyence Group Inc     1,551,744      
Cash provided from financing activities     1,551,744      
Change in cash and cash equivalents     (385,329)      
Cash and cash equivalents, beginning of year     2,191,095      
Cash and cash equivalents, end of year     1,805,765      
Foreign Currency Translation            
Current assets            
Cash and cash equivalents       (471,485)   (437,658)
Restricted cash       (10,444)   (7,990)
Other receivables       (52,782)   (9,862)
Prepaids       (27,226)   (1,344)
Total current assets       (561,937)   (456,854)
TOTAL ASSETS       (561,937)   (456,854)
Current liabilities            
Accounts payable and accrued liabilities       (632,767)   (32,858)
TOTAL LIABILITIES       (632,767)   (32,858)
EQUITY            
Net equity       70,830   (423,996)
NET DEFICIT       70,830   (423,996)
TOTAL LIABILITIES AND NET DEFICIT       $ (561,937)   $ (456,854)
Expenses            
Sales and marketing     (2,263)      
Research and development     (517,867)      
General and administrative     (117,947)      
Professional and consulting fees     (403,153)      
Loss before other items     (1,041,230)      
Other items            
Interest income     (500)      
Foreign exchange gain     (8,662)      
NET LOSS     (1,050,392)      
Non-cash adjustment:            
Share based compensation     (71,469)      
Foreign exchange     (84,499)      
Changes in working capital:            
Other receivables     42,920      
Prepaids     25,882      
Accounts payable and accrued liabilities     (599,909)      
Cash used in operating activities     344,993      
Proceeds received from Psyence Group Inc     (378,821)      
Cash provided from financing activities     (378,821)      
Change in cash and cash equivalents     (33,828)      
Cash and cash equivalents, beginning of year     (437,658)      
Cash and cash equivalents, end of year     $ (471,485)